While stocks are selling off today, and while the media is trumpeting the selloff, it's useful to remember that equity investment is a long term matter.
Consult the chart here, the Dow Jones Industrial Average for the last twelve months. As you watch the short-term losses from today and the last couple of weeks, note the gains for the year. And remember that a year isn't that long to be invested in equities.
This isn't the end of the world, the beginning of a major recession, or a lesson not to invest in stocks. It's a correction, the kind of thing that happens to a market that over time consistently rises.
4 comments:
Market correction? Stocks fell today because an elegant rose petal fell to the ground. The enchanting jass percussionist, Max Roach, his name notwithstanding, left his motel and went to the Hotel California, where, I hear, you can never leave.
Investors and traders swooned, and the financial markets crumbled, both debt and equity.
The world will not continue without the beloved triangle player.
I'm not sure that it was Max Roach. More likely Rove.
We deeply mourn the loss of Roach, a senior statesman of the jazz world who was present at just about every recording session that ever mattered. Tonight we will listen to some of his classic recordings with Clifford Brown, who died far too young, and remember that young or old, we all have the same appointment.
It has to be Rove, the master of malignity.
He is now single-forkedly taking dividends out of the mouths of retail investors.
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